Vinci reports ‘better than expected’ 2013

Contractor Vinci has reported an increase in revenues and net income for 2013 – a performance that it said was better than it had expected.

Despite difficult market conditions in Europe and bad weather in first half, Vinci reported a 4.4% year-on-year increase in revenues for 2013 to €40.3 billion, and a 2.3% rise in net income to €2 billion.

The company said contracting revenues grew 4.7% year-on-year to €34.6 billion, while concession revenues were up 4.9% to €5.6 billion. It said 38% of the group’s total revenues were generated outside France.

Looking ahead to 2014, Vinci said it expected to see a continuation of the positive trends it had experienced in its concessions business, while the contracting business had a healthy backlog and it was counting on a slight improvement in margins this year.

The group-wide order book totalled €27.3 billion on 31 December, 2013, up 2.2% compared to the same point in 2012.